Encompass Capital Advisors LLC Acquires Shares of 2,891,590 Tetra Technologies, Inc. $TTI

Encompass Capital Advisors LLC acquired a new stake in Tetra Technologies, Inc. (NYSE:TTI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,891,590 shares of the oil and gas company’s stock, valued at approximately $27,094,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. ProShare Advisors LLC boosted its position in shares of Tetra Technologies by 6.7% during the fourth quarter. ProShare Advisors LLC now owns 23,179 shares of the oil and gas company’s stock worth $217,000 after purchasing an additional 1,452 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Tetra Technologies by 31.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 6,204 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 1,473 shares in the last quarter. LPL Financial LLC boosted its position in shares of Tetra Technologies by 9.7% during the fourth quarter. LPL Financial LLC now owns 19,626 shares of the oil and gas company’s stock worth $184,000 after purchasing an additional 1,739 shares in the last quarter. Sei Investments Co. boosted its position in shares of Tetra Technologies by 2.5% during the third quarter. Sei Investments Co. now owns 73,170 shares of the oil and gas company’s stock worth $421,000 after purchasing an additional 1,754 shares in the last quarter. Finally, State of Wyoming boosted its position in shares of Tetra Technologies by 23.3% during the fourth quarter. State of Wyoming now owns 9,703 shares of the oil and gas company’s stock worth $91,000 after purchasing an additional 1,834 shares in the last quarter. 70.19% of the stock is owned by institutional investors.

Tetra Technologies Trading Up 0.3%

Shares of NYSE TTI opened at $10.18 on Thursday. The company’s fifty day moving average is $9.78 and its 200-day moving average is $9.71. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 203.68 and a beta of 1.22. Tetra Technologies, Inc. has a twelve month low of $3.17 and a twelve month high of $12.54. The company has a quick ratio of 1.20, a current ratio of 2.02 and a debt-to-equity ratio of 0.62.

Tetra Technologies (NYSE:TTI) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $156.25 million for the quarter, compared to analysts’ expectations of $151.20 million. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. Equities research analysts predict that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling

In related news, VP Kurt Hallead acquired 22,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost of $9.86 per share, with a total value of $216,920.00. Following the transaction, the vice president owned 170,764 shares of the company’s stock, valued at $1,683,733.04. The trade was a 14.79% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.27% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 19th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.25.

About Tetra Technologies

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.